4th Aug 2014 07:51
LONDON (Alliance News) - The Mission Marketing Group PLC Monday said it has acquired Proof Communication Ltd through its April-Six Ltd specialist technology agency.
Proof Communication is a science, engineering and technology-focused PR firm with offices in central London.
Mission Marketing says it expects the acquisition to make a positive contribution to its earnings in the current and the next financial year.
Mission Marketing did not provide financial details of the acquistion, saying it is not defined as substantial under AIM rules. It said the deal will comprise an upfront payment upon completion, along with a further deferred 2016 payment dependent on the performance of the business.
Mission Marketing will fund the cash elements of the deal through cash flows and existing financing facilities and will issue 115,347 new shares to satisfy part of the initial payment.
The acquisition comes after the group said it remains confident for further progress this year when revealing its half-year results in July, adding it expects the year to be weighted to the second half.
Mission Marketing shares were untraded at 51 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
TMMG.L